Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
  1. Homepage
  2. Equities
  3. Spain
  4. Bolsas y Mercados Espanoles
  5. Banco Santander, S.A.
  6. News
  7. Summary
    SAN   ES0113900J37


SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Telefonica cuts debt by 200 mln euros with Colombia network stake sale

07/19/2021 | 05:43am EDT

MADRID, July 19 (Reuters) - Telefonica expects to cut its debt by 200 million euros ($169 million) following the sale of a controlling stake in its optic fibre network in Colombia to buyout fund KKR, the Spanish telecom operator said on Saturday.

It plans to spin off the unit but retain a 40% stake, while a local unit of KKR is taking the rest.

The operation values the fibre network in Colombia at $500 million.

KKR intends to expand coverage to 4.3 million households in the country by 2024 from 1.2 million at the moment, the buyout fund said in a statement.

Spanish bank Santander advised Telefonica on the transaction, a source with knowledge of the deal said.

The deal still requires regulatory approvals, KKR and the operator said.

Telefonica is reducing its debt by selling assets, including the 6.2 billion euro ($5.25 billion) sale of its Telxius mobile tower masts to American Tower earlier this year.

Like its European rivals, Telefonica has faced growth issues aside from the impact of the pandemic and is also seeking investors for its other businesses, such as logistics arm Zeleris amid a pandemic-induced boom in the sector.

The company is also keen to extract value from its Telefonica Tech unit, which provides IOT (Internet of Things), Big Data, cloud, and cybersecurity services and in which it may sell a minority stake in coming months.

($1 = 1.1805 euros) ($1 = 1.1805 euros) (Reporting by Clara-Laeila Laudette, Cristina Galan and Flora Gomez; Editing by Inti Landauro and Edmund Blair)

© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BANCO SANTANDER, S.A. 0.41% 3.096 Delayed Quote.21.47%
KKR & CO. INC. 0.08% 63.65 Delayed Quote.57.20%
TELEFÓNICA, S.A. 0.49% 4.093 Delayed Quote.25.49%
THE NASDAQ COLOMBIA INDEXED MARKET 0.00% 349.859841 Real-time Quote.-21.81%
All news about BANCO SANTANDER, S.A.
05:38aBANCO SANTANDER S A : UK Competition Watchdog to Monitor Santander Following Repeated Reta..
04:34aDUNELM : Founders' Son Pledges $735 Million in Shares to Secure Santander Loan
09/23Financial Stocks Leading Market Rally
09/23European ADRs Move Sharply Higher in Thursday Trading
09/23SANTANDER : Credit Suisse remains its Buy rating
09/23CITIGROUP : Named Successor Depositary Bank for Spain's Banco Santander's ADR Program
09/23SANTANDER : Receives a Buy rating from Credit Suisse
09/22SANTANDER CONSUMER USA HOLDINGS INC. : Change in Directors or Principal Officers, Regulati..
09/21STOXX EUROPE 600 : Moody's Changes Ratings on Portuguese Banks Amid Government Bond Rating..
09/21BANCO SANTANDER S A : Santander Offers Early Retirement To Portuguese Staff To Cut Cost
More news
Analyst Recommendations on BANCO SANTANDER, S.A.
More recommendations
Sales 2021 45 402 M 53 282 M 53 282 M
Net income 2021 6 787 M 7 965 M 7 965 M
Net Debt 2021 - - -
P/E ratio 2021 7,88x
Yield 2021 5,37%
Capitalization 53 354 M 62 615 M 62 615 M
Capi. / Sales 2021 1,18x
Capi. / Sales 2022 1,15x
Nbr of Employees 190 751
Free-Float 99,1%
Duration : Period :
Banco Santander, S.A. Technical Analysis Chart | SAN | ES0113900J37 | MarketScreener
Technical analysis trends BANCO SANTANDER, S.A.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 3,08 €
Average target price 3,71 €
Spread / Average Target 20,4%
EPS Revisions
Managers and Directors
José Antonio Álvarez Álvarez Vice Chairman & Chief Executive Officer
José Antonio Garcia Cantera Group Chief Financial Officer
Ana Patricia Botín-Sanz de Sautuola O'Shea Executive Chairman
Dirk Kudwig Marzluf Group Head-Technology & Operations
Marjolein van Hellemondt-Gerdingh Group Chief Compliance Officer
Sector and Competitors